The company generated a net income of $441 million for the quarter ended Sept. 30, 2018, compared to $442 million for the quarter ended June 30, 2018, and $202 million for the quarter ended Sept. 30, 2017. Net income for the nine months ended Sept. 30, 2018, was $1.3 billion, compared to $466 million for the nine months ended Sept. 30, 2017.

This story originally appeared in F&I and Showroom, another Bobit Business Media publication.

Prior to 2018, sedans at auction had experienced three years of consecutive value declines. For sedan-heavy fleets, this may have meant an impact to total cost of ownership for those vehicles, as profits from remarketing them would have suffered. Now companies with sedan-heavy fleets may be finding that a window of opportunity to remarket those vehicles for better profit has emerged.

Vehicles from fleet consignors followed the broader used-vehicle market downward in September, as wholesale prices struggled to keep up with last year's hurricane-driven demand and a now robust upstream market, said Tom Kontos, KAR Auction Services' chief economist.

Six pickup trucks made the top-10 list of vehicles that retain the highest percentage of their value after a five-year ownership period, along with two Jeeps, a Subaru, and the Toyota 4Runner. At the other end of the spectrum, the Nissan Leaf saw the highest depreciation over the same period.

Used-vehicle auctions have started resuming regular business hours following the effects of Hurricane Florence, which had less of an impact on the U.S vehicle market than Hurricanes Harvey and Irma in 2017.